Ripple Hits 1.7 Million RLUSD: A Game-Changing Announcement Looms
Ripple continues to dominate the crypto innovation space with its growing RLUSD stablecoin and iconic XRP asset. The blockchain giant recently achieved a significant milestone with RLUSD trading volumes reaching record heights. A major announcement is reportedly in the works, poised to shake up the crypto market.
RLUSD Gains Momentum with Strategic Moves
Ripple Treasury issued 1.79 million RLUSD on the Ethereum blockchain in a bold strategic move. Within 24 hours, over 6.7 million RLUSD were transferred through anonymous wallets and platforms like Bitstamp. The RLUSD stablecoin operates on Ethereum and XRP Ledger, backed by $83 million in reserves for 80 million tokens in circulation.
An official attestation, due by the end of the month, will disclose the asset composition behind RLUSD.
Key metrics highlight RLUSD’s growing prominence:
- $607.9 million in 24-hour trading volume.
- Ranked among the top four most-traded stablecoins.
- Over 1.5 million RLUSD transferred via Bitstamp.
Paul Barron summarized the milestone on X (formerly Twitter):
“Ripple’s RLUSD hits $600M in daily volume, ranking 4th among stablecoins!”
Ripple’s Growth and Market Impact
Ripple holds over $100 billion in XRP reserves, signaling its robust market strategy. CEO Brad Garlinghouse dismissed IPO rumors, emphasizing Ripple’s valuation exceeds $11 billion.
The RLUSD is reshaping the stablecoin landscape, competing with giants like Tether (USDT) and USD Coin (USDC). Ripple’s resurgence follows its past glory as the second-largest crypto by market cap before its SEC legal battle.
A Bright Future for Ripple Ecosystem
RLUSD boosts Ripple’s ecosystem, empowering XRP to reclaim market dominance. As Ripple scales new heights, its vision continues to set benchmarks in the crypto world.
SOURCE: COINTRIBUNE
